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    tipilautoa's Avatar
    tipilautoa Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Jul 14, 2012, 12:13 PM
    Getting 401(k)
    No I don't work for company.I got fired and I need my money to pay my bills.
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #2

    Jul 14, 2012, 05:18 PM
    First its not a good idea to piggyback your question on another thread. This can lead to confusion. So I've moved your question to its own thread.

    If you want your 401(k) balance talk to the plan admins. You will take a big hit in taxes and penalties. So this should be a last resort.
    ebaines's Avatar
    ebaines Posts: 12,131, Reputation: 1307
    Expert
    		  
    #3

    Jul 16, 2012, 06:49 AM
    FYI, if you are "separated from service" from your employer at age 55 or later you won't owe the 10% early withdrawal penalty. But regardless you will have to pay federal as well as state/local income tax on any withdrawal (if applicable where you live)
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